Plan C Studios will also be producing films being helmed by various directors!
Gandhi has been attacking the BJP government for allegedly inking the deal at a much higher price than the one the previous United Progressive Alliance regime had negotiated to benefit 'one businessman'.
"A global settlement was reached between the French tax authorities and Reliance Flag, a telecom company, in a tax dispute pertaining to the period 2008-2012," the French embassy said in a statement.
Leading the Opposition attack over the Adani-Hindenburg issue in the Lok Sabha, Rahul Gandhi on Tuesday linked Gautam Adani's meteoric rise to Prime Minister Narendra Modi's coming to power and said "magic" happened after 2014 that propelled the businessman from the 609th to the second spot on the global rich list.
The junior Ambanis - Anmol and Anshul - were inducted on the board to respect the wishes of the shareholders who during the recent AGM asked the management to get fresh blood into the company by bringing them on board.
The government is considering withdrawing legal cases against telecom companies, involving disputes of about Rs 40,000 crore, a source said on Tuesday. In line with this, the Department of Telecom has already filed an affidavit before the Supreme Court in a case against Anil Ambani-promoted Reliance Communications to take an informed decision whether to proceed with the present appeal or not, the source said. DoT has said the telecom sector is passing through a financial stress due to various circumstances and telecom services providers are making losses.
A Mumbai court on Tuesday acquitted two persons -- Uday Wanekar and Balraj Thewar -- accused of sabotaging Anil Ambani's helicopter in April last year, due to lack of evidence.
Earlier in the day, India's Ambassador to Russia Kanwal Sibal had said that Moscow had denied visa to a group of young entrepreneurs led by Anil Ambani and Anand Mahindra for a meeting in St. Petersburg.
Industrialist Anil Ambani met Oil Minister S Jaipal Reddy on Wednesday, seeking natural gas allocation for his group's upcoming power projects.
The top officials of the two companies, including chairman Anil Ambani, have also been barred from investing in secondary market till December 2011.
In what could be a coincidence, the two Ambani groups have separately approached the Securities and Exchange Board of India for settlement of probes by the regulator in two separate cases of alleged violation of trading regulations.
Mumbai police's elite crime branch has come under fire from a special court for its "biased" probe into the alleged sabotage of business tycoon Anil Ambani's helicopter.
Reliance ADA Group chairman Anil Ambani has been allowed to meet two senior executives of his parent company now lodged in Tihar prison who were arrested in connection with 2G scam case.
Reliance Infra claims the run by the market operator has caused a loss of Rs. 300,000 crore to infrastructure stocks.
Anil Ambani-led Reliance Communications on Tuesday said it may sell 26 per cent stake in the company, and also list its telecom tower subsidiary Reliance Infratel, to become debt free.
Industrialist Anil Ambani on Tuesday said that his group was looking to unlock value in its life insurance venture through listing of Reliance Life as a separate company on the bourses.
Buy-back worth Rs. 1,000 crore will be funded from investments made by the company in liquid and marketable securities.
He claimed the NDA government bought the planes at Rs 1,600 crore a piece as against the Rs 526 crore for each aircraft fixed by the UPA.
The supplies to Anil Ambani Group's power plants including the one proposed at Dadri near Delhi, will be subject to government approving the allocation of the fuel, Mukesh Ambani said.
A sharp rise in Reliance-Anil Dhirubhai Ambani Group (ADAG) stock prices baffled market players on Tuesday.
The government on Friday said allocation of natural gas to companies like Anil Ambani Group's RNRL will depend on availability of the fuel after supplying to already designated users.
The US Eximbank is believed to have sanctioned $910 million in loan guarantee towards equipment to be supplied to Anil Ambani Group's Rs 20,000 crore (Rs 200 billion) power project in Madhya Pradesh, India.
The exposure, which is for the period ended September 2019, is across various platforms such as life funds, pension funds, and unit-linked funds.
Three Anil Ambani Group companies -- Reliance MediaWorks, Reliance Capital and Reliance Capital Partners -- have acquired 16,196 shares, or 0.05 per cent stake, of Fame India through open market transaction, Reliance MediaWorks said in a filing to the Bombay Stock Exchange.
Anil Ambani Group firm Reliance Power has chalked out an ambitious plan to invest about Rs 80,000 crore (Rs 800 billion) in the next three years for creating 20,000 MW of thermal power generation capacity.
Anil Ambani group on Monday said the oil ministry's interference in marketing and pricing dampened investor interest in India's auction of oil and gas blocks and its chairman had warned the Prime Minister about the same.
Billionaire Mukesh Ambani on Monday laid bare the succession plan at India's most valuable company, identifying twins children Akash and Isha for telecom and retail leadership, and youngest son Anant for new energy unit. He, however, insisted he isn't retiring yet and will "continue to provide hands-on leadership as before". At the annual shareholders' meeting of Reliance Industries Ltd, he said the robust architecture that he has announced will ensure the firm remains "a unit, well-integrated and secure institution even as it develops existing businesses and adds new growth engines."
The anxiety among investors over the outcome of the bitter battle between Mukesh Ambani-led RIL and his younger brother Anil Ambani group on gas came to an end on Friday, with the Supreme Court ruling that the government had the last word.
This would be done either through strategic sale or initial public offering, ADAG chairman Anil Ambani told shareholders at the company's annual general meeting in Mumbai.
The seven listed companies of the Anil Ambani Group, led by Reliance Power and RCom, made their investors wealthier by Rs 16,969 crore.
Resuming arguments over its dispute with Anil Ambani Group firm Reliance Natural Resources Ltd, senior counsel Harish Salve said it was RNRL which had in 2007 argued that marketing freedom cannot be allowed to the Mukesh Ambani-run firm and asked the government to frame Gas Utilisation Policy.
Oil regulator V K Sibal has alleged that Anil Ambani Group had orchestrated a vilification campaign against him to settle personal scores with corporate rival Mukesh Ambani-led Reliance Industries.
BJP members of the panel who were present in the meeting room didn't sign the attendance register in protest leading to a lack of quorum required for holding the meeting.
Stating that Anil Ambani Group firm's project was neither installed nor operating, petroleum minister Murli Deora had earlier this week told Parliament that the Dadri project would be considered for allocation of gas along with similar other upcoming projects. RPower said it had initiated the ICB process for selection of EPC contractors for its power plants way back in 2005 but not concluded owing to Mukesh Ambani promoted Reliance Industries Ltd's refusal to supply gas.
A friend of Mukesh Ambani should not be petroleum minister
The company had raised a similar amount of debt in FY 09 as well. Reliance Power has bagged three of four contracts for developing UMPPs in the country.
Mukesh Ambani's Reliance Industries Ltd on Wednesday told the Supreme Court that the demerger scheme worked out with his brother Anil Ambani was categorical that the gas supplies from the KG Basin to his group was not for trading and meant for promoting power generation plant.
The long-drawn dispute between the two Ambani brothers took another turn on Sunday, with both Mukesh Ambani and Anil Ambani saying all disagreements can be sorted in a cordial and conciliatory manner.
Terming as "illegal" marketing margins charged by RIL on gas supplied to it, Anil Ambani group firm Reliance Infra has asked the Mukesh Ambani-led company to withdraw these charges and refund the payments it had made till now.
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